Thus, more than a third of the member companies of the European Business Association (EBA) had or have investment projects in Ukraine in 2022-2024. The average investment amount is $3-8 million.
«Companies report opening factories or expanding capacities, building and renovating production facilities, purchasing or modernizing equipment, agricultural machinery, registering drugs, investing in IT products, software,» the association told EP.
Despite the great war, foreign investors have not stopped investing in Ukraine. Thus, according to the National Bank, in 2023 they invested $4.25 billion in the economy. This is even more than in the relatively peaceful 2016-2017.
However, according to journalists, the vast majority of these investments ($3.2 billion) are reinvested earnings of foreign companies already operating in Ukraine. In particular, foreign businesses invested in the restoration of facilities damaged by shelling or occupation.
There were also new projects and even intentions of new players to enter the Ukrainian market. Foreign arms manufacturers are perhaps the most interested in Ukraine, but investors are also attracted to the civilian sectors of the economy.
The reasons why foreign businesses may be interested in working in Ukraine are low competition in the domestic market, a large sales market, proximity to the EU, and cheaper labor compared to neighboring countries, according to an article by Ekonomichna Pravda.
«Since 2022, there have been many cases where businesses have entered even the frontline regions and made a profit. Despite the high risk, there are new market opportunities that are quite obvious to investors. I am grateful to everyone who understands how important it is to support Ukraine’s economy now and proves by their example that it is possible to make money even during the war,» commented Pavlo Kostyuk, founder of the Ukraine Reconstruction Fund.
